Chair of Insolvency Law Committee
Jennifer Marshall (Allen & Overy LLP)
Letter to Rt Hon Sajid Javid MP re preferential status for tax debts
Joint stakeholder letter to the Chancellor September 2019
Response by City of London Law Society's Insolvency Law Committee to HM Revenue & Customs' consultation paper "Protecting your taxes in insolvency"
The City of London Law Society (CLLS) Insolvency Law Specialist Sub-Committee and The Insolvency Lawyers' Association (ILA) Technical Committee paper: ISSUES PAPER ON LEGISLATIVE REFORMS (2018/2019), February 2019
Response To Department for Business, Energy & Industrial Strategy's Insolvency and Corporate Governance Consultation
Letter to Insolvency Service - follow-up to letter to Insolvency Service of 17th August
Letter to BEIS expressing concerns about the legal certainty and vires of the draft Business Contract Terms (Assignment of Receivables) Regulations 2017 laid before Parliament and about the absence of consultation on the draft.
Implications of Brexit on the Restructuring and Insolvency Profession
Insolvency Law Committee - the impacts of Brexit
05/07/2016 - Response to Insolvency Service Consultation on Review of Corporate Insolvency Framework 05 07 16
Response to the Insolvency Service Consultation entitled “A Review of the Corporate Insolvency Framework – A consultation on options for reform”
09/10/2014 - Response to the Insolvency Service call for evidence on Insolvency Proceedings: Review of debt relief orders and the bankruptcy petition limit
The consultation sought views on how debt relief aids have performed (since they were introduced in April 2009) and how they could be improved. It also sought views on whether the creditor petition limit (currently £750) should be increased. The response stated, inter alia, that the Committee believed that there are two key principles which should shape any consideration of the relationship between the Debt Relief Order (DRO) and bankruptcy regimes, namely that: • An individual in severe financial difficulties should always be able to apply for either a Debt Relief Order or a bankruptcy order; and • As a general rule, an individual in severe financial difficulties should not be forced to choose bankruptcy rather than a DRO, where their bankruptcy is unlikely to result in any repayment for creditors, given the value of that individual’s assets.
09/10/2014 - Response to The Insolvency Service consultation on continuity of supply of essential services to insolvent businesses
The consultation referred to powers taken in the Enterprise and Regulatory Reform Act 2013 which enable the Government to build upon existing legislative provisions contained within the Insolvency Act 1986 relating to the protection of supply of essential utility services for insolvent businesses. The consultation sought views on the exercise of the powers, with a view to ensuring insolvency practitioners are more effectively able to rescue viable businesses. The submission argued that the wording of the Draft Order should be conformed as far as possible to the equivalent provisions contained in the SAR and FSBRA, and also made general comments in relation to the priority of supplies made after the appointment of an administrator, and provision by the Insolvency office holder of a personal guarantee. The submission also responded to the specific consultation questions.
03/04/2014 - Response to the Insolvency Service Consultation on insolvency practitioner regulation and fee structure
The Consultation set out ways to strengthen the regulation of insolvency practitioners by introducing regulatory objectives and giving the oversight regulator additional powers to deal with failure to comply with the objectives. It also included proposals to change the ways an insolvency practitioner can charge fees to ensure that money is available to pay creditors. The Submission responded to some of the specific questions contained in the Consultation Paper. It also made the general comment that the measures proposed in relation to insolvency practitioner fees are unlikely to improve market confidence or the reputation of the insolvency profession and may in fact discourage insolvency practitioners from taking appointments which may leave creditors in a worse position, for example where work currently undertaken by small practitioners is no longer economic.
06/02/2014 - Response to The Insolvency Service Consultation: Insolvency Rules 1986 – modernisation of rules relating to insolvency law
The consultation concerned a proposal “to modernise and recast the [Insolvency Rules 1986]; taking the opportunity to reorder the whole structure on more logical and clear lines”. The submission responded in detail to the consultation questions and made a number of comments on the drafting of the Insolvency Rules.
The HMT consulted on secondary legislation which will underpin the extension of the financial services Special Resolution Regime, to include investment firms, banking group companies and clearing houses. The Committee’s response focussed on three specific questions raised in the Consultation: (1) Whether we consider that the capital markets exemption should be included in the draft Banking Act 2009 (Banking Group Companies) Order 2013 (the “Order”); (2) Whether the current provisions are framed in “a sufficiently powerful but flexible way as to provide legal certainty”; and (3) Whether there are any other entities which we would wish to see excluded.
18/10/2013 - Response to European Commission Consultation on a new European approach to business failure and insolvency
The Insolvency Law Committee recently responded to the European Commission’s “Consultation on a new European approach to business failure and insolvency”. The consultation aimed to gather views on the need for and feasibility of harmonising certain aspects of insolvency law, as a follow up to the Commission’s December 2012 communication of the same name. CLLS’s submission responded in detail to the consultation questions and, more generally, expressed surprise at the piecemeal approach to the harmonisation of EC Insolvency legislation which appeared to underpin the Consultation. It warned against amending parts of the insolvency legislation in isolation and recommended that any significant proposed amendment needs to be considered in the context of both the wider insolvency legislation of each Member State and other areas of law which would potentially be affected by the proposed amendments.
15/10/2013 - Response to The Insolvency Service consultation: Red Tape Challenge - changes to insolvency law to reduce unnecessary regulation and simplify procedures
The consultation contained proposals which form part of the response to the Government’s ‘Red Tape Challenge’ agenda, and related to regulations affecting insolvency practitioners (IPs), the practice of insolvency and the reporting duties of IPs on the conduct of directors. The response focused mainly on Part 2 of the Consultation, which related to changes to the law governing insolvency processes. The main body of the response highlighted the key points which the Committee considered may require further consideration, while the Appendix (which should be read in conjunction with the main body of the response) contained specific replies to the Consultation questions.
Response to Joint Insolvency Committee Consultation on the Proposed Amendments to SIP16
28/02/2013 - Insolvency Law Commitee response to Call for Evidence in relation to proposed European Insolvency Regulation
Insolvency Law Commitee response to Call for Evidence in relation to proposed changes to the European Insolvency Regulation
Response to the European Commission Consultation on the Future of European Insolvency Law
Response to the Insolvency Service consultation on the proposals for reforms of the process to apply for bankruptcy and compulsory winding up
Response to the Insolvency Service Consultation on Proposals for Technical Amendments to the Insolvency Act 1986 and other related Insolvency Legislation
Response to Insolvency Service Consultation on the Insolvency (Amendment) (No 2) Rules 2011 (dealing with pre-packaged administration sales)
Response to Insolvency Service Consultation on New Insolvency Rules
Response to Insolvency Service Consultation Paper entitled "Proposals for a Restructuring Moratorium"
Response to Insolvency Service Consultation/Call for Evidence on Improving the Transparency of and Confidence in Pre-packaged Sales in Administrations
Response to HMT Consultation on Strengthening the Administration Regime for Insurers
Response to UNCITRAL Legislative Guide on Insolvency Law Consultation: Part Three - Treatment of Enterprise Groups in Insolvency
Response to consultation on the official receiver becoming trustee of the bankrupt’s estate on the making of a bankruptcy order and removal of the requirement to file a ‘no meeting’ notice in certain company winding up cases
Response to HMT Consultation "Establishing Resolution Arrangements for Investment Banks"
Response to the Reform of Debtor Petition Bankruptcy and Early Discharge from Bankruptcy Consultation
Response to the Insolvency Service Consultation on the Cross Border Insolvency Regulations 2006
Response to Evaluation of Council Regulation (EC) No 1346/2000 of 29 May 2000 on Insolvency Proceedings
Response to the Insolvency Service consultation "Encouraging Company Rescue"
Comments on Part 2 (Bank Insolvency) and Part 3 (Bank Administration) of the Banking Bill
Revised proposal concerning the use of websites by insolvency office-holders in their communication with creditors/members
Financial Stability and Depositor Protection - Special Resolution Regime
Response to consultation on Financial Stability and Depositor Protection: Strengthening the Framework
Insolvency Committee Business Plan for 2008
Comments on the European High Yield Association's submission to HM Treasury on Insolvency Law Reform
Response to Consultation on Changes to the Insolvency Act 1986 and the Company Directors Disqualification Act 1986
Response to Consultation on Proposed Amendments to the Insolvency Rules 1986, following insertion of Section 176ZA
Response to the Insolvency Service on Pre-Appointment Administration Expenses
Response to the Insolvency Service on the Pensions Act 2004